HUBCO declares 26pc fall in half year profit

KARACHI: Hub Power Company Limited (HUBCO) has declared 26.6 percent fall in profit after tax for the half year ended December 31, 2018, according to financial results submitted to Pakistan Stock Exchange (PSX) on Thursday.

The company declared net profit to the tune of Rs3.029 billion for the first half of current fiscal year as compared with Rs4.128 billion in the corresponding half of last fiscal year.

The company also announced earnings per share for the period at Rs2.62 as compared with Rs3.57.

The company turnover for the period fell to Rs18.97 billion as compared with Rs43.36 billion during the six-month period of the last year.

Operating cost of the company also shrank to Rs14.01 billion as compared with Rs38.42 billion.

The gross profit of the company for the first half of current fiscal year was at Rs4.95 billion as compared with Rs4.93 billion during the same period of the last fiscal year.

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